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Week 4 - Coggle Diagram
Week 4
Eastern Management
Collectivist
Long-termism
Seniority-based
Steep Hierarchy
Many important stakeholders
Cultural impacts
Middle class growth
More entrepreneurs
Increase base on merit
Western Management
Individualist
Early adopters & proponents of capitalism
Short-termism
Limited hierarchy
Merit-based
Shareholders - primary stakeholder
Future of Asia and World
Potential to grow to $148 trillion by 2050
Mega challenges
Middle income trap
Global climate change
Limited natural resources
Potentially contributing 51% to world GDP by 2050
Regionally unique managerial implications
Cultural factors
Confusionism
Warner: Its impact to economic & related behaviour is debated among social scientists
; but is it important to contemporary affairs?
emphasis on education
Value hierarchy/seniority
Still varies when looking at their specifics
Relationships
The idea that the people you know are more important than what you know
Convergence < > Divergence
Asian societies are blending
Less collectivism, more individualism
Mixed evidence regarding intergenerational changes in values
Consumer-driven society as opposed to production-oriented
Managers may be more motivated by monetary rewards
Asian workers save more of their income
preparing for the unforeseen
Growing middle class
Via entrepreneural wealth
Benefitting from manager/ admin roles
Economic Factors
'Powerhouse' of global economy
Increasing economic growth
Political Factors
Large political influence
Switch from 'command' to 'market' economy
Moderated balance between managers and managed
Why Asia?
Why focus on management in aisia?
Accounts for 40% of the global economy
Rising middle class
Accounts for 1/3 of total global FDI inflows
Reality of International management
Ongoing & increasing globalisation
Blurring of International borders
Global expansion for competitiveness & survival
South & South East Asia: The Engine
Home to the two most populous and largest transition economies (PRC & India)
Tiger economies
Global Brands
Rapidly expanding skilled labour force